Plantar Fasciitis Treatment Market

1. Plantar Fasciitis Treatment - A Rising & Promising Option Plantar fasciitis has emerged as a persistent kind of repetitive strain injury that afflicts runners, hikers, and walkers, and also nearly everyone who stands for a living, such as cashiers for instance, especially on hard surfaces. The multi-factorial etiology of plantar fasciitis has led to a significant surge in the number of sufferers, while laying a firm base for the growth of companies that provide treatment for this condition. The steadily growing patient population has opened a window of opportunities for stakeholders who are widely adopting technologically-advanced products to alleviate heel pain in less period of time, and provide better relief even in worse cases. This continuing prevalence of plantar fasciitis has also paved the way for a range of customized foot orthotic insoles, specifically designed to alleviate pain while walking. With this heel pain increasing its hold on the growing geriatric population in particular, Transparency Market Research (TMR) decided to gauge the future growth prospects of the plantar fasciitis treatment market. Report fasciitis-market.html Overview: https://www.transparencymarketresearch.com/plantar- Changing Dynamics of Plantar Fasciitis Treatment Market There are a wide range of treatments that form a promising ally for combating severe heel pain caused by plantar fasciitis, and thereby are widening the scope of growth for stakeholders. As per TMR’s estimations, the plantar fasciitis treatment market accounted for revenue worth ~ US$ 695 Mn in 2018. A large section of the working class stands for prolonged periods of time during their jobs, and suffers from body pain, specifically ankle or foot pain, which has been found to be the predominant cause of plantar fasciitis. This can be attributed to the fact that, the manufacturing sector continues to expand at an unprecedented rate, with ~ 22% of the global population engaged in this industry, who stand at one position for a long duration. In light of the growing incidences of heel pain caused by standing for prolonged periods of time, TMR analysts envisaged that the market is highly likely to take a leap of growth, expanding 1.4X between 2018 and 2027. Sedentary Lifestyles Shaping Market Dynamics Though a sitting, inactive lifestyle can’t really be traced as the key cause behind plantar fasciitis, it definitely increases the risk of this condition. Moreover, the paradigm shift of individuals towards a sedentary lifestyle, coupled with their rapidly changing eating habits, has led to a significant increase in the number obesity cases. For that matter, a large part of the population has become prone to facing pressure on the joints and ankles, which can lead to plantar fasciitis. While plantar fasciitis continues to gain momentum as a common foot pain condition, an increased number of treatments are coming to the fore, with each one of them vying to suffice patient needs in a better way. As obese and geriatric populations fall close to the epicenter of plantar fasciitis, an increased number of people are falling prey to this condition. Request Sample: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=47 658

2. Patient Preference for Medication Therapy in Hospitals Hospitals accounted for over half of the revenue generated by the plantar fasciitis treatment market, finds TMR’s analysis, which further indicates that the footfall will gain momentum in the years to come. In recent years, medication therapy has garnered limelight as the most widely adopted first line of therapy to manage the symptoms associated with plantar fasciitis, such as pain and inflammation. This can be attributed to the increasing number of medical centers, hospitals, and clinics that continue to prescribe one or the other form of painkillers, such as NSAIDS or steroids, to patients to fight plantar fasciitis. It is pertinent to note that, though medication continues to maintain its position as a widely adopted treatment option, the demand for orthotics is set to grow, owing to the rise in awareness and its proven efficacy in managing plantar fasciitis. What’s Holding Back Market Growth The market for plantar fasciitis treatment continues to expand at a promising pace; however, there remains several determinates as potholes in the path leading to market growth. The volatile pricing of raw materials has been compelling orthotics manufacturers to keep a stock of prerequisites such as nylon, raw leather, shoe soles, EVA foam, and carbon composites, to avoid potential interruption in manufacturing caused by the shortfall of raw materials. However, the high risk of disparity in the potential future cost of the product could diminish the profit margins of manufacturer. Moreover, the storage of raw materials also pushes the inventory turnover ratio. Furthermore, as the leather industry continues to face backlash from organizations fighting against animal cruelty, the price point of this raw material continues to spike, limiting the profit margins of stakeholders. How Stakeholders are Beating the Odds Strengthening Market Position through M&A The plantar fasciitis treatment market is highly fragmented, with a large number of small players operating individually at a regional as well as global level. As market competition continues to intensify, several stakeholders have placed their focus on mergers and acquisitions to solidify their position and secure gains. For instance, in 2017, Aetrex acquired Sols System to leverage its medical and consumer-grade 3D printed orthotics as well as software for the mass customization of footwear. The same year, Superfeet Worldwide, Inc. entered into a strategic partnership with HP to create a new machine - FitStation, which was designed to create a 3D scan of a customer’s foot shape, and an analysis of the way a wearer runs or walks. Customization in Full Swing Orthotics made its way into the medical devices industry long back, and has managed to appeal to practitioners and patients alike. Orthotics, as a treatment for plantar fasciitis, is only preceded by medication, and is likely to emerge as a key treatment option in the coming years, as manufacturers continue to place focus on advanced and diversified offerings to move ahead of their counterparts. Manufacturers are offering custom foot orthotics (specially made shoe inserts)

3. designed to fit perfectly on the feet. As stakeholders put microscope focus on proper foot support and comfort, the market is likely to witness an increased production of customized orthotics that are in tune with the foot structure of the patient. 3D Orthotic Printing - A Fad or Game Changer for Plantar Fasciitis Treatment Providers? A bunch of changes are underway in the market for plantar fasciitis treatment, as advanced technology continues to make inroads into every aspect of medical device manufacturing, while opening a lucrative window for the development of cost- effective variants. The effectiveness of 3D printing in reducing cost, increasing orthotic efficacy, and paving the way for innovative designs currently remains blurred in the plantar fasciitis treatment market. Though there exists minimal advantages of additive manufacturing over subtractive options for manufacturing foot orthoses on a large industrial scale, it could witness greater adoption in the years to come. This can be attributed to the fact that, several companies have placed their focus on exploiting 3D printing technology by changing existing business models and foot orthoses production processes. For instance, in 2017, Wiivv Wearables Inc. raised US$ 4 million in Series A funding for its 3D printed insoles, and also purchased a custom footbed supplier – eSoles, to set the platform for the launch of its next phase of made-to-fit footwear. Developed Regions – Focal Point of Plantar Fasciitis Treatment Market Growth Developed regions such as North America and Europe continue to lead the plantar fasciitis treatment market, owing to the growing focus of companies on leveraging technology in manufacturing processes and subsequent launches of new orthotic- based offerings. As per TMR’s analysis, North America accounted for ~ 42% market value share in 2018, and will continue to remain a trailblazer through to 2027. This steady growth can be attributed to the high adoption of advanced treatment approaches, and growing pool of plantar fasciitis patients in the region, which is primarily driven by an increase in the geriatric and obese populations that are more susceptible to this condition. Moreover, several leading market players, including Hanger, Inc. and Pfizer, Inc., have their headquarters in North America, a fact that continues to keep the lucrativeness of the region intact. Plantar Fasciitis Treatment: Overview Increase in the preference for orthotics such as foot insoles and splints and medication therapy drives the growth and acceptance of plantar fasciitis treatment products. Medication therapies such as acetaminophen or nonsteroidal anti- inflammatory drugs in conjunction with stretching exercises and physical therapy have been established as first line of therapy for plantar fasciitis. Cortisone injections are used to treat more severe cases.

4. Plantar Fasciitis Treatment Market: Novel Product Development to Boost Growth The global plantar fasciitis treatment market was valued at ~ US$ 695 Mn in 2018. The global plantar fasciitis treatment market is projected to reach ~ US$ 1 Bn by 2027, expanding at a CAGR of ~ 4% from 2019 to 2027. Rapid adoption rates have been observed for technologies such as 3D bioprinting, custom-made foot orthotic insoles, and computer-aided fixation of foot orthotic insoles, thereby boosting the plantar fasciitis treatment market. Advancements in technology to offer customized foot orthotics in the plantar fasciitis treatment market are anticipated be a lucrative opportunity for new players willing to enter the plantar fasciitis treatment market. For instance, according to research published by the journal PLOS ONE in February 2017, custom-made foot orthotics reduced tibial and head acceleration rates as compared to prefabricated insoles. Enquiry Before Buying: https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&re p_id=47658 Plantar Fasciitis Treatment Market: Increase in Sales through Online Platforms The development of e-Commerce platforms allows customers to browse and order from a range of product offerings provided by vendors through online portals. It makes the shopping experience of buyers calmer, and supports in brand retaining and prominence. Online sales of products result in higher revenues and increase in share in the plantar fasciitis treatment market. Furthermore, rise in the penetration of e-Commerce is expected to enable vendors to provide a broad range of products in user segments such as teenagers and adults, to reach new potential customers and increase the customer base of these products. The availability of a range of foot orthotic insoles on these platforms provides users a unique buying platform to compare prices and features, and connect with product promotions. Individual users get to interact with fellow consumers and get to know their feedback on the products. Increase in the popularity of online shopping, consumer trust on Internet sales, and faster shipping services have led to the higher availability of various foot orthotic insoles, thereby driving the global plantar fasciitis treatment market.

5. Plantar Fasciitis Treatment Market: Rise in Demand for Custom Foot Orthotic Insoles Custom foot orthotics are specially made shoe inserts designed to fit perfectly to the feet. These products provide support and comfort to users, and are manufactured after complete evaluation of the foot structure of the user. Custom foot orthotic insoles are effective in relieving conditions such as lower back pain, leg fatigue, heel pain/plantar fasciitis, and other painful conditions of the foot associated with other diseases such as diabetes and arthritis. Moreover, clinical studies performed to compare the effectiveness of custom- made and prefabricated insoles conclude that, custom-made foot orthotics are more effective than prefabricated ones, as these provide foot comfort while reliving painful foot conditions. Advancements in technology so as to be able to offer customized foot orthotics is expected be a lucrative opportunity for new players who are willing to enter the global plantar fasciitis treatment market. North America to Account for Leading Share in Global Plantar Fasciitis Treatment Market Based on end user, the global plantar fasciitis treatment market has been categorized into hospitals, clinics, and others. In terms of region, the global plantar fasciitis treatment market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America is projected to dominate the global plantar fasciitis treatment market during the forecast period, due to the high adoption of advanced treatment approaches and high prevalence of plantar fasciitis, owing to an increase in the geriatric and obese populations. Plantar Fasciitis Treatment Market: Companies Mentioned in Report The report contains the profiles of leading players operating in the global plantar fasciitis treatment market. Key players operating in the plantar fasciitis treatment market include Hanger, Inc.,

6. Bayer Group (Dr. Scholl's), A. Algeo Limited, Bauerfeind AG, Superfeet Worldwide, Inc., Ottobock SE & Co. KGaA (Ottobock Holding), Pfizer, Inc., Sanofi, G GlaxoSmithKline plc. About Transparency Market Research Transparency Market Research registered at Wilmington, Delaware, United States, is a global market research company providing custom research and consulting services. TMR provides in-depth insights into factors governing demand in the market. It divulges opportunities across various segments based on Source, Application, Sales Channel, and End-Use that will favor growth in the market over the next 9 years. Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports. For More Research Insights on Leading Industries, Visit Our YouTube Channel and hit subscribe for Future Update - https://www.youtube.com/channel/UC8e-z-g23-TdDMuODiL8BKQ Contact Rohit Bhisey Transparency Market Research Inc. CORPORATE HEADQUARTER DOWNTOWN, 1000 N. West Street, Suite 1200, Wilmington, Delaware 19801 USA Tel: +1-518-618-1030 USA – Canada Toll Free: 866-552-3453 Website: https://www.transparencymarketresearch.com Blog: https://tmrblog.com Email:sales@transparencymarketresearch.com